Monday, July 24, 2006
Daily Market Commentary
Updated Friday, 7/21 for Monday's market
Consolidating..
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Updated Friday, 7/21 for Monday's market
| Key DOW Levels for 7/24 | |
| UP | Above 10,925 |
| DN | Below 10,825 |
Consolidating..
- Dow extends decline, forms continuation pattern at lows. The index closed the day at the lows of the session with a 60 point loss and is now winding up for the next move.
- The NASDAQ and S&P each traded mostly sideways today after selling off in the opening minutes. Look for continued range movement until a clear and solid breakout occurs.
Summary
The Dow closed the near the lows of the session within the boundaries of a tight consolidation. This consolidation could lead to the next big test of critical support or it will make for another run at highs. Either way, this is the range to watch.
- The NASDAQ and S&P each traded mostly sideways today after selling off in the opening minutes. Look for continued range movement until a clear and solid breakout occurs.
Summary
The Dow closed the near the lows of the session within the boundaries of a tight consolidation. This consolidation could lead to the next big test of critical support or it will make for another run at highs. Either way, this is the range to watch.
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